By Siddharth Cavale
NEW YORK, Jan 27 (Reuters) – Walmart Inc’s first chief economist, John List, said on Friday he is optimistic about the U.S. economy this year, citing the strength of the job market compared to previous economic downturns.
“When you look at the current labor market, it looks very different from what we have in most recessions,” List told a business event.
He noted current underemployment and wage growth trends that showed positive contrasts to periods such as the COVID-19-fuelled recession and the financial recession of 2008/09.
Underemployment – defined as the phenomenon when people want full time work but have to settle for part time work – is the lowest it has been in the past 20 years, while current wage growth rates are higher than at any point during the same period, List said, labeling the underemployment trends “very positive.”
Asked about the likelihood of a recession, List, who joined Walmart in April last…
